Manulife Financial Co. (TSE:MFC) Expected to Post Q2 2021 Earnings of $0.81 Per Share

Last updated on Monday, July 26, 2021 | 2021 MarketBeat

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) - Equities researchers at Cormark issued their Q2 2021 earnings per share (EPS) estimates for shares of Manulife Financial in a report released on Thursday, July 22nd. Cormark analyst L. Persaud expects that the financial services provider will post earnings per share of $0.81 for the quarter. Cormark also issued estimates for Manulife Financial's Q3 2021 earnings at $0.81 EPS, Q4 2021 earnings at $0.79 EPS and FY2021 earnings at $3.22 EPS. Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings results on Wednesday, May 5th. The financial services provider reported C$0.81 EPS for the quarter, beating the Zacks' consensus estimate of C$0.76 by C$0.05. The company had revenue of C$15.00 million during the quarter.

Other research analysts also recently issued research reports about the company. Evercore boosted their price target on Manulife Financial from C$30.50 to C$31.50 in a research note on Thursday, May 6th. Barclays lifted their target price on Manulife Financial to C$38.50 and gave the company a "na" rating in a research report on Monday, July 12th. Scotiabank decreased their target price on Manulife Financial from C$29.00 to C$27.00 in a research report on Friday, May 7th. Credit Suisse Group decreased their target price on Manulife Financial to C$27.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 12th. Finally, Evercore ISI lifted their target price on Manulife Financial to C$31.50 and gave the company a "na" rating in a research report on Thursday, May 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Manulife Financial currently has an average rating of "Buy" and a consensus target price of C$28.83.

MFC stock opened at C$23.97 on Monday. The firm has a market capitalization of C$46.55 billion and a P/E ratio of 8.98. The company has a 50-day moving average of C$24.54. Manulife Financial has a 52 week low of C$17.58 and a 52 week high of C$27.68. The company has a debt-to-equity ratio of 44.91, a quick ratio of 2.88 and a current ratio of 6.02.

The company also recently declared a quarterly dividend, which was paid on Monday, June 21st. Stockholders of record on Tuesday, May 18th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 4.67%. The ex-dividend date was Monday, May 17th. Manulife Financial's dividend payout ratio (DPR) is currently 41.95%.

In related news, Director Simonetta Vendittelli sold 2,129 shares of the company's stock in a transaction that occurred on Thursday, May 20th. The stock was sold at an average price of C$27.18, for a total value of C$57,869.57. Also, Senior Officer Steve Finch sold 12,896 shares of the company's stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of C$25.90, for a total value of C$333,997.37. Following the completion of the sale, the insider now owns 9,080 shares in the company, valued at C$235,165.64. Over the last 90 days, insiders have sold 36,272 shares of company stock worth $942,149.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; And Corporate and Other segments. The Wealth and Asset Management Businesses segment provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

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Earnings History and Estimates for Manulife Financial (TSE:MFC)

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